Sale of Wines in Philippines Holding Up According to Latest Report from Yats Wine Cellars, Leading Supplier of Fine Vintage Wine in Philippines
Manila Wine Consumers outgrow simple wine from S America and Australia, shift purchasing towards venerable vintage wine from Bordeaux, Burgundy, California, Italy and Spain. Unexpected market shift causes inventory and cash flow problems for importers.
Manila, Philippines, December 13, 2009 --(PR.com)-- Five solid years of strong growth in new-world wine in the p1000 price point has pumped massive dose of confidence into wine importers dealing in Chile and Australian wine. Palate shift came more suddenly than anyone expected. The market has evidently grown tired of high-alcohol fruit-driven wines produced for immediate consumption. The new trend leans towards drinking less but drinking better and that means finer wine in less quantity.
Although the strength of the Euro doesn’t lend a helping hand to this market shift, change is inevitable. Wine importers report sharp decline in demand for new-world wine in 2009. The expected corresponding increase in sale of old-world wines has not materialized either but industry watchers explained that this should just be a natural delay phenomenon.
2010 is expected to bring about price war between importers of low-end wines caused by pressure to unload slow-moving items of 2009. Importations will likewise slow down until at least most of the 2009 stock is out of the warehouse. Consumers should not expect to see a lot of new labels appearing on shelves for the first half of the year at least, if not for the whole of 2010. This breeds concerns of slowing down in market demands due to lack of stimulus.
2010 may be a window of opportunity for new importers to enter the market. New labels have a much better chance of catching the attention of wine shoppers than in the past. That would make for interesting times ahead, defying the widely accepted notion that business is mostly a zero-sum game. Something’s lost and something’s gain but not in this case as it stretches the imagination to come up with winners here, not even the consumers, not this time.
Yats Wine Cellars
3003C East Tower, Philippines Stock Exchange Center (Tektite)
Exchange Road, Ortigas Center, Metro Manila, Philippines
(632) 637-5019 ask for Rea or Chay
(045) 599-5600 0922-870-5178 ask for Ana Fe or Bastiaan
wine@Yats-International.com
www.YatsWineCellars.com
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Although the strength of the Euro doesn’t lend a helping hand to this market shift, change is inevitable. Wine importers report sharp decline in demand for new-world wine in 2009. The expected corresponding increase in sale of old-world wines has not materialized either but industry watchers explained that this should just be a natural delay phenomenon.
2010 is expected to bring about price war between importers of low-end wines caused by pressure to unload slow-moving items of 2009. Importations will likewise slow down until at least most of the 2009 stock is out of the warehouse. Consumers should not expect to see a lot of new labels appearing on shelves for the first half of the year at least, if not for the whole of 2010. This breeds concerns of slowing down in market demands due to lack of stimulus.
2010 may be a window of opportunity for new importers to enter the market. New labels have a much better chance of catching the attention of wine shoppers than in the past. That would make for interesting times ahead, defying the widely accepted notion that business is mostly a zero-sum game. Something’s lost and something’s gain but not in this case as it stretches the imagination to come up with winners here, not even the consumers, not this time.
Yats Wine Cellars
3003C East Tower, Philippines Stock Exchange Center (Tektite)
Exchange Road, Ortigas Center, Metro Manila, Philippines
(632) 637-5019 ask for Rea or Chay
(045) 599-5600 0922-870-5178 ask for Ana Fe or Bastiaan
wine@Yats-International.com
www.YatsWineCellars.com
###
Contact
Yats Wine Cellars
Chay Tanglao
(632) 637-5019
www.YatsWineCellars.com
www.ClarkWineCenter.com (045) 599-5949 0916-542-6602 Ana Fe
Chay Tanglao
(632) 637-5019
www.YatsWineCellars.com
www.ClarkWineCenter.com (045) 599-5949 0916-542-6602 Ana Fe
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